Manufactured Housing Financing
Manufactured Homes Are Now Eligible ADUs
We have updated our Selling Guide requirements for Accessory Dwelling Units to include manufactured homes, so long as it is multi-width and the primary dwelling unit is site-built. Learn more.
Today's modern manufactured homes (MH) can help ease the nation's affordable housing shortage, address borrowers' evolving needs, and provide a growing business opportunity for lenders and the industry. Fannie Mae offers several options to support mortgage lending for manufactured homes.
Manufactured housing mortgages
MH Advantage® combines features, like a down payment as low as 3%, with the lower price and customizable finishes of modern manufactured homes. MH Advantage homes are built to blend into traditional neighborhoods.
MH Advantage homes: Similar to site-built with simple appraisal
MH Advantage homes have features like lower profile foundations, garages or carports, and drywall throughout. See the Retailer Home Specs for details.
Appraisers choose the most appropriate comparable sales, which – unlike standard MH – may include sales of site-built homes. Confirming the home is eligible for MH Advantage is also easy for lenders:
- The appraiser will include photos of the MH Advantage manufacturer sticker and specific access improvements in the appraisal.
- Lenders only need to confirm those photos are present in the report to know a home is eligible.
Learn more about MH Advantage appraisal and find appraisal resources.
Affordable Conventional Financing
MH Advantage brings affordable financing to manufactured housing with:
- A down payment as low as 3%
- Waived 0.50% LLPA, which means more homebuyer savings
- MI coverage comparable to site-built homes
Financing for traditional manufactured homes
Standard MH financing, for homes that don’t qualify for MH Advantage, provides a path to homeownership for millions of American households, especially in high-cost and rural areas. Fannie Mae purchases mortgages secured by manufactured housing titled as real estate using our standard MH underwriting guidelines.
Get the details on Manufactured Housing offerings:
Visit the Learning Center for additional resources, including training, fact sheets, MH Advantage Specs, and other resources.
C-to-P for Manufactured Housing:
To qualify for purchase loans with a LTV greater than 95%, homeownership education will be required for at least one borrower when all occupying borrowers are first-time home buyers.